Stanley has just prepared the firm
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s 2015 income statement, balance sheet, and statement of retained earnings, shown in Tables 2, 3, and 4, along withthe 2014 balance sheet. In addition, he has compiled the 2014 ratio values and industry average ratio values for 2015, which are applicable to both 2014 and2015 and are summarized in Table 5. He is quite pleased to have achieved record earnings of $48,000 in 2015, but he is concerned about the firm
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s cashflows. Specifically, he is finding it more and more difficult to pay the firm
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s bills in a timely manner and generate cash flows to investors, both creditorsand owners. To gain insight into these cash flow problems, Stanley is planning to determine the firm
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s 2015 operating cash flow (OCF) and free cash flow(FCF).